Settlement

Once you have received card payment from your customer, the money will be available in your Xendit account for withdrawal to your bank account. Process of money movement from issuing bank to acquiring bank called as settlement.

Settlement process may differ depending on the integration model you use with Xendit (Aggregator/Facilitator)

Parameters	Aggregator	Facilitator
Definition	Using Xendit’s Merchant ID which allows merchant to receive card payments without having to have their own Acquirer	Requires the merchant to have their own Merchant ID from their Acquirer.
Merchant Region Support	Indonesia and Philippines	Any country
Settlement Currencies	Indonesia: IDR Philippines: PHP, USD	Any currencies that are supported by the Acquirer
Responsible for Settlement	Xendit	Acquirer
Settlement term	T+7 Negotiable based on MDR %	Depending on the acquirer
Transaction Cut-off Time	2PM GMT+7 Settlement for transactions that are made after 2PM will be available the next day	Depending on the acquirer
Settlement cash available	2.30PM GMT+7	8AM - 10AM GMT+7 depending on the acquirer
Settlement report available	2.30PM GMT+7	8AM - 6PM GMT+7 depending on the acquirer

FAQ

1. If I use the Facilitator model, is Xendit involved in the Settlement Flow?
   1. No, Xendit is not involved in it. It is directly between you the merchant and the acquirer bank, therefore any inquiries about the settlement should be directed to the acquiring bank
2. Can I settle payments from foreign cards to a USD account in Indonesia?
   1. No, Bank Indonesia regulations require Indonesian merchant to settle only in IDR
   2. International merchants can settle in the currency of their legal jurisdiction